Robinhood Co-CEO Baiju Bhatt. Photo credit: Steve Jennings/Getty Images for TechCrunch, under Creative Commons license

Stock trading app Robinhood has bagged yet another round of funding, with the company just having raised $460 million in new funding as an extension to a recently closed $200 million funding round. With the new funding, it’s such that Robinhood has raised nearly $1.3 billion in funding this year alone. Overall, the company has now raised some $2.2 billion in total funding since its inception. Among investors who provided Robinhood’s new funding include Andreessen Horowitz, Sequoia Capital, Ribbit Capital, DST Global, and D1 Capital Partners. The fundraise signals a very strong investor appetite for Robinhood, as the company benefits from surging retail trading activity during the coronavirus lockdown.

This year has seen Robinhood top 13 million users and score $180 million in second-quarter revenue due to increased trading activity. The company added 3 million new funded accounts in the first four months of this year. As Robinhood has raised more funding, so has its valuation boomed, with the new round valuing the company at $11.7 billion. Up until recently, Robinhood was the most valuable consumer fintech upstart in the US, until it was surpassed by digital banking app Chime which recently closed $485 million in funding at a valuation of $14.5 billion. 

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